Peer-to-peer (P2P) crypto exchanges provide an efficient, secure, and private way to buy and sell cryptocurrencies like Bitcoin and Ethereum using preferred payment methods. Unlike centralized platforms, P2P exchanges often feature lower fees and greater flexibility. Below, we explore the top P2P crypto exchanges, their features, and key considerations.
Top P2P Crypto Exchanges
1. Bybit P2P
Founded: 2018 | Location: Singapore
Supported Cryptos: USDT, BTC, ETH
Payment Methods: 300+ (bank transfers, cards, cash)
Bybit P2P is a fast-growing platform with escrow protection, low trading fees, and support for 25+ fiat currencies. No KYC is required for small trades.
2. Paxful
Founded: 2015 | Location: USA
Supported Cryptos: BTC
Payment Methods: 300+ (gift cards, e-wallets)
Paxful offers a reputation system, escrow services, and tiered verification. Sellers pay 0.5–5% fees, while buyers trade fee-free.
3. Binance P2P
Founded: 2018 | Location: Global
Supported Cryptos: BTC, ETH, BNB, USDT, etc.
Payment Methods: 300+ (PayPal, bank transfers)
Binance P2P provides zero fees for takers, escrow protection, and 70+ fiat options. KYC is mandatory.
4. LocalCoinSwap
Founded: 2015 | Location: Hong Kong
Supported Cryptos: 23+ (BTC, ETH, XRP)
Payment Methods: 250+
A non-custodial platform with cold-wallet escrow and 1% ad fees. No deposit fees apply.
5. Hodl Hodl
Founded: 2018 | Location: Global
Supported Cryptos: BTC
Payment Methods: SEPA, wire transfers
Hodl Hodl uses multi-sig escrow and charges 0.5–0.6% fees. No KYC is required.
Comparison Table
| Exchange | Supported Cryptos | Fees | KYC Required |
|---|---|---|---|
| Bybit P2P | BTC, ETH, USDT | 0% (taker) | No (small trades) |
| Binance P2P | 10+ cryptos | 0–0.35% | Yes |
| Paxful | BTC | 0.5–5% (seller) | Yes |
FAQs
Can I buy crypto with P2P exchanges?
Yes! P2P platforms allow direct crypto purchases using fiat or other payment methods.
Does Coinbase support P2P trading?
No, Coinbase currently lacks P2P functionality.
Are P2P exchanges safe?
Reputable platforms use escrow, reputation systems, and 2FA to minimize risks.
Key Takeaways
- Security: Prioritize platforms with escrow and user reviews.
- Fees: Compare maker/taker fees and payment method costs.
- KYC: Some exchanges allow anonymous trading; others require verification.
P2P exchanges empower users with decentralized, low-cost trading—choose a platform aligning with your needs and region.